First Solar, Inc. (NASDAQ:FSLR) Upgraded by Citigroup Amid Challenges

• Citigroup upgrades First Solar, Inc. (NASDAQ:FSLR) from Neutral to Buy with a stock price of $196.25.
• Investigation by Bronstein, Gewirtz & Grossman, LLC into potential claims for investors who purchased First Solar securities.
• Jefferies predicts a slight miss in third-quarter results and revises volume estimates for 2025 and 2026 below consensus.

First Solar, Inc. (NASDAQ:FSLR) is a leading provider of solar energy solutions, specializing in the design and manufacture of photovoltaic solar modules. The company is a key player in the renewable energy sector, competing with other solar giants like SunPower and Canadian Solar. On October 21, 2024, Citigroup upgraded First Solar from a Neutral to a Buy rating, with the stock priced at $196.25 at the time.

Despite this positive outlook from Citigroup, First Solar faces challenges. Bronstein, Gewirtz & Grossman, LLC has announced an investigation into potential claims for investors who purchased First Solar securities. This follows Jefferies' analysis, which predicts a slight miss in First Solar's third-quarter results due to lower-than-expected volumes.

Jefferies has also revised its volume estimates for 2025 and 2026, projecting figures 8% and 4% below consensus, respectively. These projections are also below the guidance for 2024. The focus for First Solar this earnings season includes potential delays and the impact of Antidumping and Countervailing Duties on module pricing.

First Solar's current stock price is $196.25, reflecting a decrease of 2.14% or $4.30. The stock has traded between $194.60 and $200 today. Over the past year, it has seen a high of $306.77 and a low of $129.22. The company's market capitalization is approximately $21 billion, with a trading volume of 2,508,028 shares on the NASDAQ exchange.